Global Merino Wool Market Report and Forecast 2023-2028

Global Merino Wool Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global merino wool market reached a production volume of about 304 KMT in 2022. Aided by increased demand for sustainable and high-quality fabrics in the fashion and textile industries, the market is projected to grow at a CAGR of 0.4% between 2023 and 2028, reaching a value of 311.68 KMT by 2028.

Merino wool, one of the finest wools in the world is a natural, renewable fibre that is renowned for its excellent softness, breathability, and moisture-wicking abilities. Sheep of the Merino breed are renowned for their smooth and fine wool This makes it an ideal choice for various applications in apparel, footwear, and home textiles. Each wool fibre aids in controlling body temperature and carries sweat away as vapour, eliminating unpleasant odours.

The global merino wool market is influenced by factors such as changing consumer preferences, a growing focus on sustainability, and innovations in wool processing and garment manufacturing. The rise in demand for eco-friendly and high-quality fibres in the fashion and textile sectors has resulted in increased consumption of merino wool across the globe. Additionally, growing consumer awareness about the benefits of merino wool, such as thermoregulation, odour resistance, and natural elasticity, has further propelled the merino wool market growth. The outdoor and activewear segments have particularly benefited from the unique properties of merino wool, which has fuelled the market's expansion.

They are also very popular in the area, which is cold all year long. The fibres of merino shoes are severely crimped and have a wave-like structure. The strong demand for merino wool shoes is mostly due to an increase in winter tourism and a growing awareness among consumers of the advantages of merino wool. People are becoming more physically active due to a growing health consciousness, which is driving up the merino wool market demand.

The Asia Pacific region is currently leading the global merino wool market, with countries like China and Australia being the largest consumers. Rapid urbanisation, rising disposable income, and a rising need for high-quality, sustainable products are contributing to market expansion in this region.

Market Segmentation

The market can be divided based on type, weave, application, end use, and region.

Market Breakup by Type

• Worsted
• Woollen

Market Breakup by Weave

• Plain Weave
• Tropical Wool
• High-twist Wool
• Hopsack
• Twill
• Serge
• Worsted Flannel
• Prunelle
• Herringbone
• Cavalry Twill
• Others

Market Breakup by Application

• Woven
• Knits

Market Breakup by End Use

• Apparel
• Innerwear
• Socks
• Home Textiles
• Other Accessories

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global wheat flour companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Südwolle Group
• Brown Sheep Company, Inc.
• Indorama Ventures Public Company Limited
• Europa Wools Ltd.
• Xinao textiles inc.
• Yünsa A.S.
• Laxtons Limited
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.